45 Carson Street, Mulgrave VIC 3170
45 Carson Street, Mulgrave VIC 3170
Compact 3-bed house on small 184m² block | Strong 3-bathroom layout for its size | Priced near Mulgrave house median | Suits buyers wanting low-maintenance with house-style living | Smaller land limits expansion
This property offers something genuinely uncommon in Mulgrave: a full three-bedroom house configuration with three bathrooms, compressed onto a very small footprint. That bathroom count is unusually high for the size, which suggests the layout was designed for practical, modern living rather than traditional family sprawl. For a buyer who wants the feel of a house—private entrance, own outdoor space, no shared walls—without the upkeep of a large block, this fits a specific and growing niche. It serves downsizers, first-time buyers, or investors seeking strong rental appeal in a tight market. The price point aligns with the broader house market in the area, but the compact nature means you are paying for location and convenience rather than land.
The small land size may materially affect long-term flexibility. Extension potential is limited, and the outdoor area will be modest compared to older houses on the street. The higher bathroom count could appeal to renters or households wanting separation, but it may also reflect a more intensive build that prioritises internal amenity over yard space. Buyers should weigh whether the configuration justifies the price relative to larger blocks nearby, and consider how the property might feel for daily living over several years. The low vacancy rates in the area suggest rental demand is solid, which supports value, but resale may depend on finding a buyer who specifically wants this compact format.
|| Comparable Sales: 40 Carson Street sold $915,000 in 2021; 9 Carson Street sold $908,000 in 2017 | Property Price Band: $950K–$1.05M | Value Drivers: bathroom count, land size constraint, location convenience
Detailed Independent Property Report prepared by PropCred Analyst team for 45 Carson Street, Mulgrave VIC 3170
Checks found:
Value Risk
1
Liquidity Risk
1
Planning Risk
1
Income Risk
1
Execution Risk
1
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Market Insight
Mulgrave, 21km southeast of the CBD, is a family-oriented market anchored by professional couples with children, high owner-occupancy at 74.8% and strong auction clearance rates of 86-95%. House prices have climbed to a median of roughly $1.1-$1.2 million, with annual growth between 5.3% and 7.0% and 31.8% over five years; houses sell in about 35-38 days. Units are weaker, with annual declines of 3.7% to 9.6%, though quarterly REIV data shows a 23.1% bounce. Demand is driven by spacious homes and school-friendly streets, with income roughly 0.6% above Greater Melbourne. Future growth is supported by limited listings—36 for sale, 25 in the last month—and tight rental supply, but affordability constraints are visible in mortgage repayments of $1,800-$2,399 monthly and softer unit performance.
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PropCred Estimated Value
Comparable Sales: 40 Carson Street sold $915,000 in 2021; 9 Carson Street sold $908,000 in 2017 | Property Price Band: $950K–$1.05M | Value Drivers: bathroom count, land size constraint, location convenience
Bedrooms
3
Bathroom
3
Parking
2
Land
184m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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